FuboTV buys French streaming provider Molotov
The owner of the Fubo sportsbook brand will acquire “France’s number one live-streaming company” marking its international expansion.
France.- FuboTV, which owns the Fubo sportsbook brand, will buy French steaming provider Molotov for €164.3m in cash and equity. The deal is due to close in the first quarter of 2022, with 85 per cent of the transaction to be paid in equity.
FuboTV said Molotov was “France’s number one live-streaming company” and that it expected the deal to “enable FuboTV to launch its interactive sports and entertainment streaming platform on a global scale“.
Molotov provides television programming, films, documentaries and children’s content, but Fubo said it would provide the platform with sports content and “sports-first product features”.
David Gandler, co-founder and chief executive of FuboTV, said: “Molotov has set the benchmark for ad-supported and subscription streaming platforms in Europe.
“We believe this strategic asset will help accelerate our goal of achieving global scale and operating leverage as we continue to improve and innovate on our live, interactive streaming TV experience for sports fans and their families.”
Molotov uses a “freemium” model that allows customers to choose a free option with advertisements or a subscription option with more channels.
It has around 100 employees, which will remain in Paris under co-founder Jean David Blanc, who will become Molotov’s president.
Blanc said: “We’re thrilled to scale Molotov with FuboTV with whom we share the same ambition and vision for a live TV streaming platform. Our goal is to provide consumers with a best-in-class streaming experience with premium television content on a global scale.”
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